Funding Contingency definition

Funding Contingency. In the event funding for the WSC is reduced or eliminated; or if program requirements are changed prior to or after the date of this agreement; the WSC may terminate or modify this service agreement with 30 days written notification to the Member and the Sponsoring Organization. Informed Consent/Release to Use Image and Voice Recordings: The Member assigns all rights to the WSC, Serve Washington and the Corporation for National and Community Service, in perpetuity, to use their name, likeness, photograph and/or video recordings, and other identifying information for publicity or promotional purposes throughout the world and in any and all media, whether now known or hereafter devised. This includes the editing, duplication, reproduction, copyright, exhibition, broadcast and/or other non-profit use and distribution of such photographs and recordings for the purposes deemed suitable by the WSC unless specifically noted to the contrary. Legislative and Media Reporting: AmeriCorps Members will support the service site in visits by elected officials, or media publications regarding the AmeriCorps project, or the Member’s contribution to the sponsoring organization’s impact. Nepotism: Related persons may work/serve at the same agency or service site. However, WSC prohibits nepotism and considers it a conflict of interest for our project sites. Sponsoring Organizations and service sites should refrain from the appearance of partiality or preferential treatment, giving preferential treatment, or the improper use of position for personal gain. The Member may not be selected by or supervised by a relative. Relatives are defined as grandparents, parents, siblings, spouse, domestic partner, children, and stepchildren. This anti-nepotism policy is subject to all anti-discrimination requirements applicable to an individual or an organization.
Sample 1

Examples of Funding Contingency in a sentence

  • The State also agrees to cooperate and to execute all reasonably requested documentation in connection with the satisfaction of the Private Funding Contingency.

  • The City also agrees to cooperate and to execute all reasonably requested documentation in connection with the satisfaction of the Private Funding Contingency.

  • Funding Contingency Grant funding is subject to the availability of funds appropriated by legislative act for the purpose stated in the grant award.

  • Subject to the satisfaction of the Private Funding Contingency provided in Section 3.1 hereof, the Authority hereby agrees to issue the Project Bonds as provided in the Project Indentures to provide funds for the payment of the Project Costs.

  • The Funding Contingency is a part of this Agreement because Center’s annual funding agreement with DDS provides that such funding agreement is subject to the appropriation of funds by the Legislature, and that if such funds are not appropriated for any fiscal year into which such funding agreement extends, the funding agreement is of no force and effect.

  • Termination for Funding Contingency In the event funding from state, federal, or other sources is withdrawn, reduced, or limited in any way after the effective date of this Contract and prior to normal completion, WAHBE may terminate this Contract without advance notice; subject to renegotiation under those new funding limitations and conditions.

  • If there is a failure of the Funding Contingency, then (1) Center shall have no liability to pay any funds whatsoever to Contractor or to furnish any other considerations under this Agreement and (2) neither party shall be obligated to further perform any provisions of this Agreement.

  • Subject to (i) the satisfaction of the Private Funding Contingency provided in Section 3.1 hereof, (ii) the approval of the State Indenture by the State, (iii) the approval of the City Indenture by the City, and (iv) the approval of the Event Day Indenture by the City and the State, the Authority hereby agrees to issue the Project Bonds as provided in the Project Indentures to provide funds for the payment of the Project Costs.

  • Funding Contingency applies for multi-year subscriptions, so that a Member Institution is allowed to give Licensor written termination within the multi-year term effective the expiration of any prepaid Subscription period.

  • The Funding Contingency is a part of this Agreement because NLACRC’s annual funding agreement with DDS provides that such funding agreement is subject to the appropriation of funds by the Legislature, and that if such funds are not appropriated for any fiscal year into which such funding agreement extends, the funding agreement is of no force and effect.

Related to Funding Contingency

  • Funding Conditions With respect to any proposed Funding Date, the following conditions:

  • Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Standby Purchaser is not obligated to purchase Multi-Modal Bonds, and, accordingly, such Bonds are not subject to tender for purchase.

  • Broken Funding Costs means for any Purchaser Interest which: (i) has its Capital reduced without compliance by Seller with the notice requirements hereunder or (ii) does not become subject to an Aggregate Reduction following the delivery of any Reduction Notice or (iii) is assigned under Article XIII or terminated prior to the date on which it was originally scheduled to end; an amount equal to the excess, if any, of (A) the CP Costs or Yield (as applicable) that would have accrued during the remainder of the Tranche Periods or the tranche periods for Commercial Paper determined by the Agent to relate to such Purchaser Interest (as applicable) subsequent to the date of such reduction, assignment or termination (or in respect of clause (ii) above, the date such Aggregate Reduction was designated to occur pursuant to the Reduction Notice) of the Capital of such Purchaser Interest if such reduction, assignment or termination had not occurred or such Reduction Notice had not been delivered, over (B) the sum of (x) to the extent all or a portion of such Capital is allocated to another Purchaser Interest, the amount of CP Costs or Yield actually accrued during the remainder of such period on such Capital for the new Purchaser Interest, and (y) to the extent such Capital is not allocated to another Purchaser Interest, the income, if any, actually received during the remainder of such period by the holder of such Purchaser Interest from investing the portion of such Capital not so allocated. In the event that the amount referred to in clause (B) exceeds the amount referred to in clause (A), the relevant Purchaser or Purchasers agree to pay to Seller the amount of such excess. All Broken Funding Costs shall be due and payable hereunder upon demand.

  • Acceptable Insurance Default shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

  • Borrowing Base Deficiency means, as of any date of determination, the positive amount, if any, by which (i) the aggregate Loans Outstanding exceeds (ii) the Borrowing Base.

  • Insurance premium finance company means a person engaged in the business of

  • Funding Cycle means the period of time commencing with the Notice of Funding Availability or Notice of Credit Availability pursuant to this rule chapter and concluding with the issuance of allocations or loans to Applicants who applied during a given Application Period.

  • Funding Bank shall have the meaning given to such term in Section 3.3 hereof.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Funding Notice means a notice substantially in the form of Exhibit A-1.

  • Funding Request shall have the meaning set forth in Section 5.3(a).

  • Funding Agent or "agents" means an investment firm, trust bank, or other financial

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Required Special Servicer Rating means with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”, (ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer, (iii) in the case of Xxxxx’x, such special servicer is acting as special servicer for one or more loans included in a commercial mortgage loan securitization that was rated by Xxxxx’x within the twelve (12) month period prior to the date of determination, and Xxxxx’x has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage loans, (iv) in the case of Morningstar, such special servicer has a ranking by Morningstar equal to or higher than “MOR CS3” as a special servicer, provided that if Morningstar has not issued a ranking with respect to such special servicer, such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by a Rating Agency within the twelve (12) month period prior to the date of determination, and Morningstar has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities, (v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination, and (vi) in the case of DBRS, such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by DBRS within the twelve (12) month period prior to the date of determination and DBRS has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities as a material reason for such downgrade or withdrawal.

  • Cash Advance means the amount requested by you and advanced to you by any method approved by us according to the terms of this Agreement in cash or cash equivalent items (including, but not limited to, money orders, travelers checks, lottery tickets, casino chips, vouchers redeemable for cash, or racetrack xxxxxx).

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

  • Funding Ratio means: (a) for a Governmental Plan Investor or other plan not covered by clause (b) below, the total net fair market value of the assets of the plan over the actuarial present value of the plan’s total benefit liabilities, as reported in such plan’s most recent audited financial statements; and (b) for a Pension Plan Investor that is subject to Form 5500 – series reporting requirements, the funding target attainment percentage reported on Schedule SB to the Form 5500 or the funded percentage for monitoring the plan’s status reported on Schedule MB to the Form 5500, as applicable, as reported on the most recently filed Form 5500 by such Pension Plan Investor with the United States Department of Labor.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Accelerated Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Default or Event of Default, or (ii) the failure of the Borrowers to maintain Availability at least equal to the greater of (a) thirty percent (30%) of the Loan Cap, or (b) $10,000,000. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing at the Lender’s option (i) so long as such Default or Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) thirty percent (30%) of the Loan Cap , or (y) $10,000,000, in each case, for sixty (60) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement; provided, that in the discretion of the Lender an Accelerated Borrowing Base Delivery Event shall be deemed continuing (even if a Default or an Event of Default is no longer continuing and/or Availability exceeds the required amount for such sixty (60) consecutive calendar days) at all times after an Accelerated Borrowing Base Delivery Event has occurred and has been discontinued on two (2) occasions in any one 12-month period after the Closing Date. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

  • Administrative Agent Account an account designated by the Administrative Agent from time to time.

  • Funding Rate means any individual rate notified by a Lender to the Facility Agent pursuant to sub-paragraph (ii) of paragraph (a) of Clause 10.3 (Cost of funds).